A call for information has been issued by the Financial Conduct Authority and the Payment Systems Regulator.
The benefits and potential risks of digital wallets are being put under the spotlight by regulators The Payments Systems Regulator and the Financial Conduct Authority are seeking views on the impacts of digital wallets for people and businesses.
The regulators want to understand more about the range of benefits that digital wallets bring for service users; whether there are any features that mean payments do not work as well as they could; and whether digital wallets could raise any significant competition, consumer protection or market integrity issues.
David Geale, the PSR’s managing director, said: “Digital wallets are steadily becoming a go-to payment type and while this presents exciting opportunities, there might be risks too.
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